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The Social Security Administration announced recently that seniors will get a 2.5% benefits increase for the 2025 year. That amounts to around $49 more in monthly benefits for the average retiree.
The average retiree collects around $1,925 per month, according to the most recent data from the Social Security Administration, so that amounts to a raise of around $48 per month. Where to invest ...
Luckily, recipients can expect a 2.5% increase in their monthly benefits beginning in January 2025. A 2.5% increase is below the average COLA since it became annual in 1975, but it could also be ...
American retirees are receiving their first Social Security checks of 2025, and yes, they’re bigger — but not by much. The 2.5% cost-of-living adjustment (COLA) means the average monthly ...
Millions of Americans are facing tough questions about how to stretch their money with a modest 2.5% COLA increase on the horizon — or about $50 a month for the average retirement benefit.
Image source: Getty Images. 1. Benefits are getting a 2.5% cost-of-living adjustment. Each year, Social Security benefits are eligible for an automatic cost-of-living adjustment (COLA).
That means the average monthly Social Security check for retirees will increase from $1,920.48 (as of August) to roughly $1,968.50, or $23,622 annually. The COLA is made annually to help retirees ...
U.S. retirees and government benefits recipients will get a 3.2% increase next year, the federal government said on Thursday, announcing its smallest annual increase in three years after ...